I ignored a job advertised in the paper once because it said it required a master's in CS. I had a bachelor's in mathematics. The job was for a Unix kernel and system hacker at a company making Unix workstations. This was around 1984, when Unix internals experience was not widespread.
Several months later, a headhunter sent me to interview for that job, which was still open because they hadn't been able to find anyone with the necessary Unix experience before I applied.
I got the job.
They could have had me several months earlier, and without having to pay several thousand dollars to a headhunter, if they had not stuck on that requirement for a master's degree in their ad in the paper.
I don't necessarily agree with the practice, but the argument I've heard is that if you only want people with a Bachelor's or higher, you have to say that you want a Master's.
What do you think the reason for that is? That those people without a bachelor's degree will be really discouraged from applying if you state that a master's is required?
Probably because, so often, it really doesn't mean anything. This phrase is usually put there by HR departments; most hiring managers couldn't care less about an applicant's (lack of formal) education if the person can actually do the work, which, in computer science, is a lot of people with no degrees.
Several months later, a headhunter sent me to interview for that job, which was still open because they hadn't been able to find anyone with the necessary Unix experience before I applied.
I got the job.
They could have had me several months earlier, and without having to pay several thousand dollars to a headhunter, if they had not stuck on that requirement for a master's degree in their ad in the paper.